JS Securities Limited - JS Market Wrap (January 20, 2022)

FLASHNEWS:

Cost Adjustments Sought for Islamabad’s 10th Avenue Project Amid Slow Progress

ADB and FBR Collaborate to Advance Digital Tax Administration in Islamabad

FBR to Block SIM Cards of Non-Filers by Mid-May, PTA to Enforce Compliance

Karachi’s Red Line BRT Project Nears Completion, Fueled by Biogas

KE Unveils Plan for 640 MW Renewable Energy Projects Amidst Growing Demand

Brokerage

JS Securities Limited – JS Market Wrap (January 20, 2022)

January 20, 2022

Karachi, January 20, 2022 (PPI-OT): View from the desk

Benchmark index managed to close almost flat at 44,826, losing 7 points DoD. Traded volume stood at 254mn shares with WTL (0.9%), CNERGY (-1.7%), GGL (-0.6%), TELE (3.3%) and KEL (-1.9%) being the highest contributors. Index mainly recovered after making a low of 44,275 as buying was witnessed in heavy weights such as KAPCO, HBL, BAHL and PPL. Going forward, we recommend investors to book profits in the range of 45,000 to 45,300 and wait for the dust to settle before taking further buying positions.